Canadian Mining Journal

News

INITIAL OFFERING – Aurora Energy launched

TORONTO - AURORA ENERGY RESOURCES has closed its initial public offering, raising $25.0 million through the sale of...


TORONTO – AURORA ENERGY RESOURCES has closed its initial public offering, raising $25.0 million through the sale of 6.94 million shares. Aurora’s common shares are listed on the Toronto Stock Exchange and trade under the symbol AXU.

Aurora is owned 50.2% by FRONTEER DEVELOPMENT GROUP of Vancouver, but its interest may be further modified to 49.3% if the underwriters exercise their full over-allotment option before the end of April. ALTIUS MINERALS of St. John’s, Newfoundland, holds approximately 19.9% of Aurora.

Aurora was created to hold the Michelin uranium deposit and other such properties in the Central Mineral Belt of Newfoundland. The new company has a budget of $14.5 million to explore these properties during the rest of 2006. The website, parts of which are still under construction, is at www.Aurora-Energy.ca.


Print this page

Related Posts



Have your say:

Your email address will not be published. Required fields are marked *

*